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Indiana month-on-month sports betting handle decline continues in May

Indiana’s sports betting handle fell month-on-month during May, but the state’s regulator did reveal year-on-year growth across revenue and stakes for the month.

Total handle for the month was $308.4m (£251.0m/€294.0m), 21.2% higher than in May of 2022, but down 14.3% from $360.0m in April this year, marking the second consecutive month of decline.

Basketball again drew the most bets, with consumers spending $84.4m during the month, while baseball bets reached $69.1m and football $2.3m. Some $73.1m was spent on parlay betting and $77.2m across other sports.

Taxable adjusted gross revenue in May amounted to $30.7m, up 62.4% from $18.9m in the same month last year and 7.0 % higher than $28.7m in April 2022.

Looking at individual operator performance and FanDuel partner Blue Chip Casino remained in top spot in terms of both revenue and handle, posting $12.6m in revenue of a $92.0m in players wagers.

DraftKings-partnered Ameristar Casino was second with $7.3m in revenue and a $87.6m handle then Belterra Casino and its FanDuel-operated sportsbook with $4.1m in revenue off $41.2m in bets.

The state of Indiana also collected $2.9m in sports betting tax during May.